Members are hereby informed that we have received communication from Principal Mutual Fund regarding change in control over Principal Asset Management Private Limited together with transfer of the schemes of Principal Mutual Fund (“PMF”) to Sundaram Mutual Fund and proposed change of sponsorship, trusteeship, management and administration of the schemes of PMF (“PMF Schemes”) and other related changes.
As per notice cum addendum issued by Principal Mutual Fund the below schemes shall be merged into SUNDARAM Mutual Fund & subsequently scheme name changes will be done at Sundaram Mutual Fund (Annexure I & II is attached).
· PRINCIPAL SMALL CAP FUND
· PRINCIPAL MID CAP FUND
· PRINCIPAL LARGE CAP FUND
· PRINCIPAL GLOBAL OPPORTUNITIES FUND
· PRINCIPAL EMERGING BLUECHIP FUND
Further, as per the communication received from Principal AMC investor who are not in favour of the above scheme merger can redeem their investments or switch to other Schemes of Principal Mutual Fund available for subscription without payment of exit load within from November 23, 2021 to December 22, 2021 on BSE StAR MF platform.
Also, as confirm by Principal AMC, the existing SIP/XSIP/STP/SWP will continue to get processed in the Transferor schemes as per Annexure I attached.
As per the instructions received from Principal AMC, fresh/new units allotted at AMC/RTA end in Principal all schemes during the exit option period and redeemed prior to exit load free period i.e. November 23, 2021 to December 22, 2021 then applicable load will be charged from AMC end.
The notice cum addendum issued by Principal AMC is attached.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Dy. General Manager – Mutual Funds
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